| Previous Section | Index | Home Page |
Financial Failure
Mr. Gibb: To ask the Secretary of State for Trade and Industry when he will publish his Department's internal report on reducing the stigma of financial failure. [90292]
Dr. Howells: When additional work has been undertaken in order to further develop the areas identified by officials a Consultation Document will be published, probably during the coming winter, 1999-2000.
Insolvency
Mr. Gibb: To ask the Secretary of State for Trade and Industry if he will list the Government reviews and reports currently being conducted into reform of the insolvency laws. [90293]
Dr. Howells:
Two reviews of Insolvency Law and Practice were announced in the Competitiveness White Paper. The first was an internal review of insolvency (and particularly bankruptcy) law and the extent to which it contributed to the stigma of failure and inhibited enterprise. Officials reported to Ministers on 30 April 1999, and work to further develop the ideas generated is underway. The second review is a joint DTI/HM Treasury Review of Company Rescue Mechanisms, the Terms of Reference of which were announced on 2 February 1999, Official Report, column 580. That review will now report by the end of 1999.
8 Jul 1999 : Column: 584
Mr. Gibb:
To ask the Secretary of State for Trade and Industry what plans he has to sell a 49 per cent. stake in British Nuclear Fuels Limited. [90299]
Mr. Battle:
I hope to be able to make an announcement about the future of BNFL shortly.
Mr. Hesford:
To ask the Secretary of State for Trade and Industry what action he is taking to prevent disqualified company directors becoming involved with new companies. [90094]
Dr. Howells:
Action is taken by a combination of active monitoring of the appointment of new directors by Companies House and of the enforcement of disqualification law by the Insolvency Service.
Companies House records details of all disqualified directors in a public register and since 1995 has been taking continuous steps to improve the accuracy of, and access to, the register. It has also been carrying out checks to ensure that disqualified directors resign their directorships in active companies. It also routinely checks that new directors of companies notified to it are not already disqualified.
In addition, the Insolvency Service--through Official Receivers and insolvency practitioners--reports contraventions of disqualification orders for prosecution; liaises with central and local government departments and agencies which may identify breaches in the course of their own contacts with businesses; and has set up a telephone hotline for the public and business to report disqualified directors who continue to act while banned.
Mr. Pearson:
To ask the Secretary of State for Defence what estimate he has made of (a) the cost of the climate change levy to his Department and (b) the savings from the reduction in national insurance contributions that will occur when it is introduced. [88862]
Mr. Spellar:
The net impact of the climate change levy and the associated reduction in main rate of employers' National Insurance Contributions on the Ministry of Defence will depend on the rates of climate change levy. The final rates of climate change levy will not be set until Finance Bill 2000.
In addition, the Government are still considering a number of detailed issues on the tax treatment of different energy products which could have a significant impact in some instances. It is, therefore, not possible to give definitive figures about the impact of the climate change levy on the Ministry of Defence.
Dr. Kumar:
To ask the Secretary of State for Trade and Industry (1) what assessment he has made of the economic impact of the climate change levy on those chemical industries which are based on the electrolysis process; and if he will make a statement; [88198]
8 Jul 1999 : Column: 585
Ms Hewitt:
I have been asked to reply.
The climate change levy is estimated to save around 1.5 million tonnes of carbon a year by 2010, thereby making a very significant contribution to meeting the Government's legally-binding target for reducing greenhouse gas emissions set under the Kyoto Protocol, and its domestic coal of a 20 per cent. cut in carbon dioxide emissions by 2010.
The climate change levy will entail no increase in the overall burden of tax on business as the revenue will be fully recycled via a 0.5 percentage point cut in employer National Insurance Contributions. Business will also benefit from an additional £50 million for schemes aimed at promoting energy efficiency and support for renewable sources of energy, like solar and wind power.
Following Lord Marshall's recommendations, and the Government's Statement of Intent on Environmental Taxation, the Government recognises the need for special consideration to be given to energy intensive industries given their energy usage and exposure to international competition. Consequently, significantly lower rates of tax will be set for those energy intensive sectors that agree targets for improving their energy efficiency. A number of sectors including the aluminium, iron and steel, and chemicals sectors are currently involved in those negotiations. The net impact of the climate change levy and the associated reduction in National Insurance Contributions on individual sectors will depend on the rates at which the levy is set. The final rates of the levy will not be set until Finance Bill 2000.
The Government is keen to work with business on the detailed design and administration issues relating to the levy. HM Customs and Excise have just completed a further round of consultation on these issues and the Government is assessing these responses alongside other representations in deciding how to design the levy to maximise the environmental benefits while safeguarding competitiveness.
As the Government's climate change consultation document makes clear, all sectors of the economy will need to play their part in tackling the problem of climate change. It is not the Government's intention to introduce new taxes on domestic fuel and power, for social policy reasons. However, there are a number of measures in place to encourage energy efficiency in households, including the Home Energy Efficiency Scheme. These measures are set out in the climate change consultation document and will form part of the climate change strategy to be published later this year.
The UK is not alone in having to meet targets for reducing greenhouse gas emissions, or in using economic instruments to do so. Since 1990, seven EU countries have introduced explicit taxes on the carbon or energy content of fuels, including most recently, the 'Eco-Tax' introduced by the German Government. On current projections, most OECD countries will have to introduce new measures of one form or another to meet their Kyoto obligations.
8 Jul 1999 : Column: 586
Mr. Don Foster:
To ask the Secretary of State for Defence if he will list the title and purpose of each item of market and opinion research commissioned by or through his Department, its agencies and non- departmental public bodies since May 1997 stating in each case whether or not the results were published. [89692]
Mr. Spellar
[holding answer 5 July 1999]: This information is not held centrally and could be provided only at disproportionate cost.
Mr. Hancock:
To ask the Secretary of State for Defence for what reasons the RMAS Arrochar, based in Portsmouth, is being disposed of. [89968]
Mr. Spellar:
The Royal Maritime Auxiliary Service, RMAS, Naval Armament Vessels are employed primarily for freighting armament stores and other dry cargo.
A reduction in the freighting task as a result of the Strategic Defence Review, together with a decrease in the requirement to transport munitions for British forces in Germany, has cut the total volume of routine work to a level which can satisfactorily be met by using one vessel.
An independent study is being undertaken to assess the material state of the two vessels, RMAS Arrochar and RMAS Kinterbury, before we decide which vessel to retain in service.
Miss McIntosh:
To ask the Secretary of State for Defence what plans his Department has for his Department's houses in Leeming Village; and if he will make a statement. [90085]
Mr. Spellar:
Of the 32 houses in Leeming Village, 11 are currently occupied. The Defence Housing Executive (DHE) plans to release 20 of the remaining properties back to Annington Homes Ltd. next year.
(2) what estimate he has made of (a) the number of extra jobs which will be created as a result of the reduction in employers' National Insurance Contributions
and (b) the extent of job losses in manufacturing industry following the introduction of the climate change levy; and if he will make a statement. [88406]
| Next Section | Index | Home Page |